Can I retire at age 58 with 8,700,000?

Use the below retirement simulation to view the chances of a successful retirement.
About Your Retirement ?
Current Age
Retirement Age
Current Savings $
Annual Deposits $
Annual Withdrawals $
Stock market crash:
Portfolio ?
% in Stocks:
% in Bonds:
% in Cash:
Modify Stock Returns:
0%
Modify Bond Returns:
0%
Modify Cash Returns:
0%
Modify Inflation:
0%
How much money do I need to retire?

This retirement calculator runs simulations based on past data from the S&P 500, 10 Year Treasury Bond, 3 month T-Bill, and US inflation. For each year of each simulation, a random return and inflation amount is chosen.

How to use: Enter your current age and the age when you retire. Then enter your current savings, the amount that you can save annually before you retire, and the amount that you plan to withdraw after retirement. Your annual deposits and withdrawals take inflation into account. For example, if you need $50,000 to live on in retirement using today's dollars, we will automatically take into account the cost of living for your retirement years. The same is true for your annual deposits. Next, decide if you'd like to simulate a stock market crash.

In the portfolio section, choose the makeup of your portfolio with stocks, bonds, and cash. Cash assumes that your money is stored in a savings account. You can then alter the future returns and inflation. For example, if the market has historically returned about 10%, but you think the future will be worse, modify the stock returns by -3%, and the future returns will average out to 7%. Investment fees can also lower stock market returns. Many index funds and ETFs offer extremely low fees and expenses.

Many people receive income in retirement, such as social security, pension plans, part time jobs, annuities, and other benefits. This would allow you to take out smaller distributions every year. Please note that taxes must also be considered, but are not used in this simulation. A 401k, Roth IRA, and Traditional IRA are taxed differently than a standard investment account, as are dividends.

Note: This assumes that the future is at least somewhat like the past. In reality, anything could happen. The Soviet Union collapsed, Japan's Nikkei Index is still well below its 1989 peak. Numerous other markets have changed drastically and never recovered. However, this online tool is helpful in retirement planning and estimating how much you might need for retirement, especially those hoping to retire early. We recommend receiving advice from a financial planner.

Want to retire with $8,700,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%12.6%
1 years$718,438$712,038$705,795$699,701$693,750$686,220
2 years$355,662$349,038$342,619$336,395$330,357$322,775
3 years$234,753$228,100$221,697$215,531$209,592$202,194
4 years$174,310$167,678$161,339$155,278$149,483$142,325
5 years$138,054$131,462$125,205$119,269$113,635$106,738
6 years$113,891$107,348$101,185$95,380$89,915$83,288
7 years$96,638$90,151$84,085$78,417$73,125$66,771
8 years$83,705$77,276$71,311$65,782$60,664$54,583
9 years$73,651$67,283$61,420$56,032$51,088$45,276
10 years$65,612$59,306$53,547$48,300$43,530$37,984
11 years$59,040$52,797$47,142$42,035$37,437$32,153
12 years$53,566$47,388$41,837$36,871$32,442$27,414
13 years$48,939$42,825$37,379$32,551$28,290$23,513
14 years$44,976$38,926$33,585$28,895$24,799$20,265
15 years$41,544$35,560$30,323$25,770$21,835$17,537
16 years$38,544$32,626$27,492$23,074$19,298$15,229
17 years$35,900$30,047$25,017$20,732$17,111$13,264
18 years$33,553$27,765$22,837$18,683$15,214$11,581
19 years$31,454$25,732$20,906$16,882$13,561$10,133
20 years$29,569$23,911$19,187$15,290$12,113$8,883
21 years$27,864$22,273$17,648$13,877$10,839$7,799
22 years$26,317$20,791$16,265$12,617$9,716$6,857
23 years$24,907$19,445$15,018$11,491$8,722$6,036
24 years$23,616$18,219$13,889$10,480$7,839$5,319
25 years$22,430$17,097$12,864$9,571$7,054$4,692
26 years$21,337$16,069$11,931$8,751$6,354$4,141
27 years$20,327$15,123$11,079$8,010$5,729$3,658
28 years$19,390$14,250$10,299$7,339$5,169$3,234
29 years$18,520$13,443$9,584$6,730$4,668$2,860
30 years$17,709$12,696$8,928$6,177$4,217$2,531
31 years$16,953$12,002$8,323$5,673$3,813$2,240
32 years$16,244$11,356$7,765$5,213$3,449$1,984
33 years$15,580$10,754$7,251$4,794$3,121$1,757
34 years$14,957$10,193$6,775$4,411$2,826$1,557
35 years$14,370$9,668$6,334$4,061$2,560$1,380
36 years$13,818$9,176$5,925$3,740$2,319$1,223
37 years$13,296$8,715$5,546$3,446$2,102$1,085
38 years$12,803$8,282$5,193$3,176$1,906$962
39 years$12,336$7,876$4,866$2,928$1,728$853
40 years$11,894$7,493$4,561$2,701$1,567$757
41 years$11,475$7,133$4,276$2,492$1,422$672
42 years$11,076$6,793$4,011$2,300$1,290$596
43 years$10,697$6,472$3,764$2,123$1,171$529
44 years$10,337$6,169$3,533$1,960$1,063$469
45 years$9,993$5,883$3,318$1,810$965$417
46 years$9,665$5,612$3,116$1,672$876$370
47 years$9,353$5,356$2,927$1,545$796$328
48 years$9,054$5,113$2,751$1,428$723$291
49 years$8,768$4,883$2,586$1,319$656$259
50 years$8,494$4,664$2,431$1,219$596$230

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 58 starting with $8,700,000, adding $5,749 every year, while hoping to spend $57,512 every year in retirement. These numbers increase with inflation.
Reality usually performs much different than the expected returns. This uses historical averages, but anything can happen. In general, riskier investments have greater returns on average, but more volatility in the short term.
Age Total: 100% Stocks Total: 100% Bonds Total: 100% Cash Total: 38/40/22 Blend
57$8,700,000$8,700,000$8,700,000$8,700,000
58$9,593,330$9,132,230$8,997,380$9,894,531
59$10,510,657$9,518,517$9,237,600$10,499,788
60$11,519,625$9,921,805$9,483,940$11,147,659
61$12,629,518$10,342,865$9,736,544$11,846,681
62$13,850,570$10,782,506$9,995,559$12,601,509
63$15,194,054$11,241,574$10,261,135$13,417,254
64$16,672,390$11,720,955$10,533,427$14,299,525
65$18,299,266$12,221,574$10,812,589$15,254,476
66$20,089,762$12,744,402$11,098,781$16,288,867
67$22,060,494$13,290,453$11,392,166$17,410,118
68$24,229,769$13,860,790$11,692,909$18,626,380
69$26,617,763$14,456,526$12,001,178$19,946,605
70$29,246,703$15,078,825$12,317,147$21,380,631
71$32,141,085$15,728,905$12,640,988$22,939,266
72$35,327,896$16,408,042$12,972,882$24,634,388
73$38,836,877$17,117,572$13,313,010$26,479,052
74$42,700,799$17,858,893$13,661,556$28,487,611
75$46,955,772$18,633,470$14,018,709$30,675,843
76$51,641,586$19,442,835$14,384,661$33,061,099
77$56,802,087$20,288,593$14,759,607$35,662,457
78$62,485,590$21,172,425$15,143,744$38,500,899
79$68,745,336$22,096,090$15,537,275$41,599,506
80$75,639,992$23,061,430$15,940,406$44,983,664
81$83,234,206$24,070,375$16,353,344$48,681,303
82$91,599,216$25,124,944$16,776,302$52,723,150
83$100,813,524$26,227,254$17,209,496$57,143,017
84$110,963,633$27,379,519$17,653,143$61,978,106
85$122,144,868$28,584,059$18,107,468$67,269,360
86$134,462,271$29,843,305$18,572,695$73,061,838
87$148,031,597$31,159,801$19,049,054$79,405,133
88$162,980,400$32,536,212$19,536,778$86,353,831
89$179,449,243$33,975,328$20,036,102$93,968,020
90$197,593,020$35,480,074$20,547,266$102,313,844
91$217,582,421$37,053,511$21,070,513$111,464,122
92$239,605,541$38,698,846$21,606,088$121,499,021
93$263,869,656$40,419,438$22,154,241$132,506,809
94$290,603,176$42,218,807$22,715,224$144,584,667
95$320,057,809$44,100,637$23,289,292$157,839,606
96$352,510,927$46,068,789$23,876,705$172,389,458
97$388,268,190$48,127,309$24,477,724$188,363,977
98$427,666,431$50,280,433$25,092,613$205,906,054
99$471,076,831$52,532,598$25,721,639$225,173,048
100$518,908,427$54,888,455$26,365,074$246,338,260